President Joe Biden announced Monday that his campaign and the Democratic National Committee raised $97 million in the final three months of 2023, continuing its fundraising dominance with a sizable $117 million in the campaign’s bank account.

The Democratic haul from October to December – which includes money raised by the Democratic National Committee and through Biden’s joint fundraising agreement with a range of Democratic groups – surpasses the $72 million the operation raised in the second quarter of 2023 and the $71 million in the third quarter of the year. And the campaign claimed on Monday that its substantial bank account is the “highest total amassed by any Democratic candidate in history at this point in the cycle.”

[A couple of notes. First off, ‘record’ numbers are not all that impressive when one remembers that both parties adhered to the fundraising and spending limits of the presidential campaign financing fund until Barack Obama bailed out of it in 2008. That makes this a rather new industry, and the innovations on both sides keep coming. Furthermore, Biden doesn’t have a competitive primary taking place, so Democrat donors really only have one realistic outlet for influence. But this should alert Republicans that Biden is still very attractive to donors despite his polling woes, and that is a red flag for what may happen in the fall. — Ed]